Small business owners that require business loans or capital loans usually see banks as the only ray of hope. However, the downside of the banks is that they usually do not offer unsecured business loans. This also discourages the small business owners to apply for business loans with banks or other financing institutions for that matter.<\/p>\n
In secured loans, the amount of the loan sanctioned totally depends on the value of the security. This also lengthens the loan availing process since the lender is required to reckon the value of the security. In a nutshell, the business loan<\/strong><\/a> amount is totally dependent on the value of the asset hypothecated.<\/p>\n That said, this is not the case with NBFCs. They offer an unsecured business loan in Delhi, Jaipur, Mumbai, and other cities. NBFCs have eligibility criteria and all the SMEs and MSMEs who meet it are eligible to avail a business loan without security. There is also a need to provide the required documents as proof of eligibility.<\/p>\n Documents Required<\/strong><\/p>\n Once these documents are submitted, the lender will verify them and approve\/disapprove the business loan. If the loan is approved, the sanctioned amount will be credited to the borrower\u2019s bank account within a few days. The business owner can also use a business loan calculator to estimate the EMIs. As said earlier, the borrowers also have to meet the eligibility criteria to get the loan sanctioned.<\/p>\n Eligibility Criteria<\/strong><\/p>\n How to get an Unsecured Business Loan?<\/strong><\/p>\n Banks generally do not offer unsecured business loans. So, to get a business loan without collateral, you need to avail the credit facility from an NBFC. Fintech companies such as NBFCs offer unsecured business loans at the best interest rates, basic eligibility criteria, and minimal documents. Additionally, they also offer the facility online, the borrower can apply for a loan online without having to visit the lender\u2019s offer in person.<\/p>\n Let\u2019s take a look at how you can apply for a collateral-free business loan:<\/p>\n An unsecured business loan<\/strong><\/a> is certainly the best option for small business owners who are not in a position to hypothecate collateral. And now that you know its eligibility and documents required, you can make a sound choice.<\/p>\n","protected":false},"excerpt":{"rendered":" Small business owners that require business loans or capital loans usually see banks as the only ray of hope. However, the downside of the banks is that they usually do not offer unsecured business loans. This also discourages the small business owners to apply for business loans with banks or other financing institutions for that … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4233,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[250],"tags":[],"_links":{"self":[{"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/posts\/4232"}],"collection":[{"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/comments?post=4232"}],"version-history":[{"count":0,"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/posts\/4232\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.clickfor.net\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/media?parent=4232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/categories?post=4232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.clickfor.net\/wp-json\/wp\/v2\/tags?post=4232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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